B2 High-Intermediate US 1789 Folder Collection
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I've been tracing dirty money for more than 30 years.
Studying kleptocrats all over the world, distinct patterns emerge.
[kleptocracy (n.) when those in power steal government funds for personal use.]
The thing about kleptocrats is that the moves and tricks they like to use each contain the seeds of their own destruction.
They can get caught at every stage.
And those patterns are the basis of our new game, Kleptocrat: How to Hide Dirty Money.
In virtually every case, corrupt people took six separate steps to conceal their assets.
Take the money under the table.
Create a financial structure to hide it.
Move the money into the structure.
Network with family members to run the operation.
Cover up their tracks.
And last, since it's no fun for the money to sit gathering dust, take the money out and enjoy it.
I know nothing about Paul Manafort or the allegations in the indictment against him.
I read the Manafort indictment, and lo and behold, the allegations match the six-step pattern.
It says Manafort allegedly took 18 million USD secretly from Ukraine.
That's step one.
Step two: Manafort allegedly created a blizzard of offshore companies, with names like Bletilla.
They're on tiny islands I bet most people couldn't even find on map.
Then step three: He allegedly started moving the money around.
Six separate companies on the island of Cyprus sent more than 5 million USD to a home-improvement firm in the Hamptons.
Step four: Manafort allegedly enlisted some of his relatives to help.
The indictment says he got his daughter and son-in-law to pretend to live in the real estate he was buying.
Step five is covering up your secret money.
Manafort allegedly lied to his accountants, and to the federal agents, about the funds.
He used multiple passports and he quote “developed a false and misleading cover story” unquote.
Lastly, Manafort allegedly brought the money out to play.
The indictment says he “used his hidden overseas wealth to enjoy a lavish lifestyle in the United States.”
I guess sometimes a game can help you understand the news.
[Manafort has pleaded not guilty to all charges.]
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Opinion | This is how corrupt politicians launder money

1789 Folder Collection
Annie Huang published on August 5, 2020    Annie Huang translated    adam reviewed
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